The Securities and Exchange Commission today obtained a record financial penalty of $92.8 million against billionaire hedge fund manager Raj Rajaratnam for widespread insider trading. The final judgment entered today by the Honorable Jed S. Rakoff of the U.S. District Court for the Southern District of New York finds Rajaratnam liable for a civil monetary penalty of $92,805,705, which marks the largest penalty ever assessed against an individual in an SEC insider trading case.
‘Enforcement 40’ for 2020
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